Advantest Sweetens Bid for Verigy to $15 a Share

Advantest (NYSE:ATE) has sweetened its bid for chipmaker Verigy (NASDAQ:VRGY), proposing to buy all of its outstanding shares for $15 each. The company had made an earlier offer of $12.15 a share.

The Verigy board said it would not make any recommendation at this time with respect to the revised offer, but would continue engaging in discussions with Advantest, including regulatory considerations.

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Despit the revised bid, the Verigy board continued, as of Thursday, to recommend the LTX-Credence (NASDAQ:LTXC) merger agreement to its shareholders. Based in Cupertino, California, Verigy agreed to buy rival LTX-Credence for $438 million.

Verigy had previously said the proposal from Advantest, a Tokyo-based manufacturer of semiconductor test systems, was not superior to its proposal with LTX.